What’s My Cardiff-by-the-Sea Home Worth?
Market Report December 2015
Buyers and sellers in the Cardiff real estate market need information about local and current market conditions in order to make informed decisions about Cardiff homes for sale.
The Cardiff-by-the-Sea housing market is small and very localized, and finding comparables for determining price for either a listing or a purchase can be tricky due to limited inventory, the diversity of Cardiff properties for sale, and market fluctuations.
Want to learn more about Cardiff-by-the-Sea?
Cardiff by the Sea – Quintessential Beach Community
A Visual Tour of Cardiff-by-the-Sea
Like to Walk? Live in the Walking District in Cardiff CA
Want to Live in a Musical Community? Try the Composer District in Cardiff, CA
Here is a summary of the Cardiff real estate market for December 2015 based on information provided by the MLS (private sales are not included). These data are deemed reliable at the time of reporting but are not guaranteed.
TOTAL HOMES SOLD
14 (up 17%), Ave. 20 Days on Market, Ave. Sales Price $830,714 (down 38%), Ave. sale 98% of asking price
Detached Homes Sold
8 (down 11%), Ave. 23 Days on Market, Ave. Sales Price $1,023,875 (down 32%), Ave. sale 98% of asking price
Attached Homes Sold
6 (up 100%), Ave. 17 Days on Market, Ave. Sales Price $573,166 (down 33%), Ave. sale 99% of asking price
The overall volume of sales in Cardiff rose modestly over last month, with 1 fewer detached home sold in December and twice as many attached homes sold. Average sales prices dropped fairly significantly for both detached and attached homes due to the sale of higher priced properties last month that raise the averages significantly. Buyers were able to negotiate, on average, 1 - 2% off the list price with a number of homes selling at or above asking price. 50% of the transactions in December were for cash, versus 17% in November.
The Median sale price for detached homes was $987,500 (down 23%), and $509,500 (down 4%) for attached homes. Given the small number of homes sold, it is unwise to draw any conclusions about trends, especially given pricing.
At the end of December 2015 there were, once again, no homes in the Cardiff housing market with a Contingent status (i.e., short sale and REO homes that have accepted offers being reviewed by the lenders).
As of December 2015 there were only 18 Cardiff homes for sale, down 2 from last month. This represents an inventory of less than 1 month for attached homes (no change), and 2.5 months for detached homes (down from 2.6 months last month). The Cardiff market remains very competitive for buyers, and is a strong seller’s market especially for attached home buyers.
11 Cardiff homes came on the market in December, 21% fewer than in October. Only 4 homes went pending in December (not counting those that sold), down by 64% from November.
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How Important is Inventory when Buying or Selling? Very!!
Data are based on information provided by the MLS for homes. If you would like more details about the Cardiff real estate market with regard to current activity as well as the specific areas such as the Walking District and the Composer District, I am happy to provide detailed reports on these specific areas for you.
HOMES FOR SALE IN CARDIFF BY THE SEA CALIFORNIA
READ MORE:
What’s My Cardiff-by-the-Sea Home Worth? Market Report for November 2015
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